Immunovia Targeting Long-Term Market Penetration of 30% for IMMray PanCan-d
LUND, Sweden, June 30, 2020 /PRNewswire/ -- Immunovia AB (publ) ("Immunovia") today announced the company's long-term market penetration target of 30% for IMMray PanCan-d, after reimbursement and widespread insurance coverage is achieved.
As previously announced, Immunovia recently secured one of the largest funding raises for an EU-based diagnostics company, providing a strong financial position ahead of the company's first product launch based on the IMMray platform.
Immunovia's first to market product IMMray PanCan-d, is a long-sought solution for the unmet need of early and accurate detection of pancreatic cancer (PDAC).
IMMray PanCan-d will be commercially launched in the United States in the fourth quarter 2020. This will be followed by a European roll-out of IMMray PanCan-d and, subsequently, in other markets.
There are more than 7 million eligible patients annually and no existing accurate diagnostics option on the market. Immunovia targets a long-term market penetration of 30% after reimbursement and widespread coverage. The current size of the addressable market for IMMray PanCan-d is estimated to exceed USD 4 billion in EU and United States, across the three risk groups that the company targets: Hereditary/Familial, Early Symptoms and Newly Onset Diabetes after 50 years of age.
Guided by Pancreatic ductal adenocarcinoma (PDAC) Key Opinion Leaders, Immunovia's IMMray PanCan-d targets these well-defined high-risk groups as well as bottlenecks in current healthcare processes, by providing differential diagnosis in the detection of PDAC. This will result in patients and the healthcare systems reaping maximum benefits. Additionally, this supports one of Immunovia's main objectives which is to have IMMray PanCan-d be included in respective countries' National Guidelines.
"Immunovia will be the first to market with a solution to diagnose pancreatic cancer earlier and accurately, a major clinical breakthrough. Immunovia's vision is to become the undisputed market leader for blood-based diagnosis of pancreatic cancer," comments Mats Grahn, CEO, "I am confident and strongly believe that Immunovia will capture a very significant portion of the market."
About Pancreatic Cancer
In the United States, Pancreatic ductal adenocarcinoma (PDAC) has surpassed breast cancer as the third deadliest cancer with an increasing mortality rate. PDAC is projected to become the second most deadly cancer by 2030. The high mortality rate is primarily due to the late detection of PDAC and its vague early stage symptoms. Today, >80% of patients are being diagnosed so late that no treatment options are available. Earlier detection of PDAC, has the potential to improve five-year survival from currently 7-8% up to 50%, using the current methods of treatment (resection by surgery).